M&A M&A
ICICI Bank acquires 2% addnl stake in ICICI Prudential Life for Rs.1,470-Cr
ICICI Bank has acquired an additional 2% stake in Mumbai-based ICICI Prudential Life Insurance for INR 1,470-Cr. The transaction was executed through bulk deals across multiple tranches between July 22, 2026, and September 2, 2026. The bank, which held a 50.84% stake in the insurer as of June 30, 2026, increased its holding to 52.8%.ICICI Prudential Life Insurance maintains a network of distribution partners and agents to facilitate its operations. Prudential is currently working to reduce its stake in ICICI Prudential Life to below 10%, down from its previous holding of nearly 22%.
Company website ↗ (opens in a new tab)
In Nov 2015, ICICI Prudential Life had attracted about $ 295 M from PremjiInvest, Temasek.For FY25, ICICI Prudential Life had reported about INR 1,789 Cr in Operating Income and about INR 1,189 Cr in PAT.